Why Did the World Economic Crisis of 2008-2009 End in the Great Recession? A Critical Comparison of the Great Depression and the Great Recession

2019 ◽  
Vol 10 (1) ◽  
pp. 24
Author(s):  
Hagiwara
Keyword(s):  
Great Depression ◽  
Economic Crisis ◽  
Great Recession ◽  
The Great Recession ◽  
Critical Comparison ◽  
The Great Depression ◽  
The World ◽  
World Economic ◽  
World Economic Crisis

Elusive equalities and the Great Recession: restoration, retrenchment and redistribution

2014 ◽  
Vol 10 (4) ◽  
pp. 427-441
Author(s):  
Janine Brodie
Keyword(s):  
Great Depression ◽  
Economic Crisis ◽  
Great Recession ◽  
First Century ◽  
The Great Recession ◽  
The Great Depression ◽  
Early Twenty ◽  
Twenty First Century ◽  
Crisis Responses

AbstractThe 2008 global financial meltdown, commonly called the ‘Great Recession’, was the most serious crisis in capitalism since the Great Depression of the 1930s, and a fundamental repudiation of neoliberal governing assumptions. This paper focuses on the contexts that informed two governmental responses to this economic crisis — restoration and retrenchment through public austerity. It explains that these responses were contingent, experimental, inequitable and, in the end, unsuccessful. Restoration and retrenchment, however, were entirely consistent with previous neoliberal crisis-responses and the abiding ambitions of this governing project. As the economic crisis crawled into the second half of a decade, the idea of inequality was increasingly identified as an underlying cause of crisis and its amelioration as a necessary part of rebuilding economies and communities in a post-crisis era. The paper tracks the case for the revival of equality politics and policies in the early twenty-first century.

Strategy and Tactics of Monetary Policy during the World Economic Crisis

2010 ◽  
pp. 4-20 ◽  
Author(s):  
A. Nekipelov ◽  
M. Golovnin
Keyword(s):  
Monetary Policy ◽  
Economic Crisis ◽  
Exchange Rate Policy ◽  
Industrial Countries ◽  
Policy Goals ◽  
The World ◽  
Rate Policy ◽  
World Economic ◽  
World Economic Crisis ◽  
Qualitative Changes

The paper analyzes the qualitative changes in monetary policy goals and instruments during the world economic crisis of 2007-2009 in industrial countries and Russia; it represents the authors view on Russian monetary policy goals and results on different stages of crisis development. On the basis of the analysis the authors conclude on the necessity of active exchange rate policy in Russia, while developing interest rate instruments, and implementation of some exchange restrictions to prevent crisis contagion in the future.

World Economic Crisis as a Process of Substitution of Technological Modes

2009 ◽  
pp. 26-38 ◽  
Author(s):  
S. Glaziev
Keyword(s):  
Economic Crisis ◽  
Economic Activity ◽  
Sharp Increase ◽  
Energy Resources ◽  
Long Wave ◽  
The World ◽  
World Economic ◽  
Technological Mode ◽  
World Economic Crisis

The article analyzes fundamental reasons for the world economic crisis in the light of global technological shifts. It proves that it is caused by the substitution of technological modes. It is shown that sharp increase and slump in stock indices and prices for energy resources are typical of the process of technological substitution which occurs regularly according to the rhythm of long-wave fluctuations of the world economic activity. The article rationalizes a package of anti-crisis measures aimed at stimulating the new technological mode. Its structure and role of the locomotive factor of the new long wave of economic growth are revealed.

Financial Crises and the Public Discourse on Financial Elites

2018 ◽  
Author(s):  
Youssef Cassis ◽  
Giuseppe Telesca
Keyword(s):  
Great Depression ◽  
Great Recession ◽  
Public Discourse ◽  
Codes Of Conduct ◽  
The Public ◽  
The Great Recession ◽  
The Great Depression ◽  
Early Twenty ◽  
Before And After ◽  
Late Twentieth

Why were elite bankers and financiers demoted from ‘masters’ to ‘servants’ of society after the Great Depression, a crisis to which they contributed only marginally? Why do they seem to have got away with the recent crisis, in spite of their palpable responsibilities in triggering the Great Recession? This chapter provides an analysis of the differences between the bankers of the Great Depression and their colleagues of the late twentieth/early twenty-first century—regarding their position within, and attitude towards the firm, work culture, mental models, and codes of conduct—complemented with a scrutiny of the public discourse on bankers and financiers before and after the two crises. The authors argue that the (relative) mildness of the Great Recession, compared to the Great Depression, has contributed to preserve elite bankers’ and financiers’ status, income, wealth, and influence. Yet, the long-term consequences of their loss of reputational capital are difficult to assess.

The World Economic Crisis and Transnational Corporations

2012 ◽  
Vol 11 (1) ◽  
pp. 168-181
Author(s):  
Jerry Harris
Keyword(s):  
Economic Crisis ◽  
State Intervention ◽  
Capitalist Class ◽  
Dominant Position ◽  
Global Character ◽  
The World ◽  
National Capital ◽  
World Economic ◽  
Bail Out ◽  
World Economic Crisis

Abstract Although the world economic crisis has slowed the flow of global investments and production, transnational capitalism has become more centralized through greater monopolization. We can trace this development in the auto industry with an examination of state intervention, transnational alliances and global competition. Far from developing a nation-centric recovery plan, the Obama bail-out deepens the auto industry’s global character. This example shows how the transnational capitalist class works through the State to strengthen its dominant position over national capital.

Sign in / Sign up

Export Citation Format

Share Document